Art Cashin Sums It All Up
By Tyler Durden
In an interview today on CNBC, Art Cashin hits the nail on the head as he typically does when asked about the central banks, the bond market and US Treasury yields hitting new record lows.
“It’s attracting money, it’s a very powerful magnet and it’s going to keep doing that.”
“With all apologies to Janet Yellen it’s getting to a point where it doesn’t matter what the Fed thinks, rates are going to stay low.”
On whether anything Stanley Fischer said today changes the view on that, Cashin delivers epic truthiness that nobody with a PhD sitting in the Eccles building ever wants to hear again.
“Not at all, I think the only thing I heard from him was a mild frustration that they couldn’t get things going. The market is more powerful than the Fed, that’s the problem.”
Or put another way (h/t @RudyHavenstein) – “Let the market clear!!”
Source: Art Cashin Sums It All Up
